Breathing room for Halifax office vacancy

The office vacancy rate in Halifax is as 15.25 per cent overall, down from 16.97 per cent a year ago, according to a recent survey conducted by Halifax real estate counsellors, brokers and valuers, Turner Drake & Partners Ltd.

The vacancy rate is still about 10 percentage points above a balanced market of five per cent, Turner Drake stated in its release Wednesday, “but it’s a move in the right direction.”

The Halifax market is broken down into eight submarkets, seven of them enjoyed falling vacancy between June 2017 and June 2018, including the Halifax central business district, the company stated.